MPEL Melco Crown Entertainment Ltd – 50,500 of the May 12 calls were bought for $0.15. The trade went up nearly the same time as a sale of 10,000 of the May 9 calls at $1.15.

CLX The Clorox Company – 1500 of the May 72.5 calls were sold against a purchase of May 67.5 / 65 1 x 2 for $0.15. The bearish trade comes ahead of earnings on May 3rd.

EK Eastman Kodak Company – 10,000 EK May 3 Puts for $0.14. The puts were bought to open.

VCIValassis Communications, Inc. – 7000 of the May 27.5 calls were bought to open today against 287,000 shares of stock at $26.12

UALUnited Continental Holdings, Inc. – 8800 of the June 19 puts were bought for $0.40. The company will report earnings on Thursday morning.

Energy

TSLTrina Solar Limited (ADR) – 2000 of the June 32 calls were sold at $0.57.

Industrials / Materials

ANVAllied Nevada Gold Corp. – 2200 of the September 30 puts were bought for $1.05. Over 6000 traded on the day.

TIETitanium Metals Corporation – 3000 of the May 21 calls were bought for $0.45.

CLFCliffs Natural Resources Inc - traded over 13k calls in the first 2 hours of trading, above daily average of 10,000. More than 50% of the action on the offer, as far out as the $115 strike with 4,000 trading and 3,000 at the $110 strike, pushing IV30 up 3.5% and creating a bullish IV Skew. The action comes ahead of 4/28 after market earnings.

Tech

YHOO Yahoo! Inc. – 25,000 of the October 15 puts were sold at $0.69 and the October 18 / 20 call spread was bought for $0.63. The position was tied to 1.05 million shares of stock at $17.25. Also the October 15 / July 19 bullish risk reversal was bought for $0.15, 21,000x. The position was tied to 1.21 million shares at $17.19.

MSFT Microsoft Corporation – Over 12,000 of the weekly (April 29) calls were bought. The put buying appears to be ahead of earnings on the 28th of April.

Financials

CCitigroup Inc. – Over 80,000 of the June 4.5 calls were sold at $0.14.

Healthcare

BSXBoston Scientific Corporation – 10,000 of the January 6 puts were bought for $0.39. The puts were bought to open.

NWL Newell Rubbermaid Inc. - June $20 calls trading much more than its OI of 1,351 with earnings 4/29, but ahead of Tupperware earnings tomorrow morning. Call volume is 9X daily average with IV jumping, bending IV Skew bullishly. Often rumored a buyout target.

*Special thanks to Flotilla Partners, Option Radar, BMO Capital, MEB Options, LiveVolPro, CBOE, Option Monster, and all of the options desks and traders we work with to provide the option flow!

No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.

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